Futures pointed to a negative open for Wall Street Friday as crude oil dropped below $71 a barrel and banks dragged after Bank of America lowered its outlook for the sector.
Bank of America's Ken Lewis testified at a heated U.S. House committee hearing on the Merrill Lynch acquisition. Anthony Polini, bank analyst of Raymond James & Associates, said the hearing is more of a clearing of grievances...
House members and their families suffered through investment losses like millions of Americans last year, a sampling of financial disclosure statements showed Wednesday. The economic downturn also sparked some cautionary moves.
We’re “absolutely in a bull market” and U.S. stocks will rally for another couple of years, said Laszlo Birinyi, president of Birinyi Associates. He offered CNBC his top picks now.
Despite the somewhat encouraging set of data, futures drifted a bit lower as traders became more concerned with the move in 10-year Treasury yields, which briefly rose above 4 percent again earlier this morning.
If there is one thing Kenneth R. Feinberg does not like to be called, it is a czar.
Stocks declined, but ended well off their intraday lows on Wednesday after the 10-year Treasury auction, which had a much higher yield than expected. Stocks had opened higher after Home Depot raised its outlook, but those gains quickly faded as the jump in oil prices and sharp rise of lending rates spurred worries about key components of the economic recovery. Read and listen to what experts had to say…
The new General Motors may surprise people on the upside when the company emerges out of bankruptcy, said Roger Altman, former deputy treasury secretary and chairman of Evercore Capital Partners.
Stocks declined, but ended well off their intraday lows, Wednesday after the 10-year Treasury auction, which had a much higher yield than expected.
The market is way ahead of itself and it is time to sell into the rally, said Peter Costa, president of Empire Executions, and Dave Rovelli, managing director at Canaccord Adams.
Since bottoming in February at $33/barrel, oil prices have posted a rapid and astounding recovery and are suddenly back above $70 again.
Stocks skidded Wednesday as techs dragged and the jump in oil prices spurred worries about the recovery in consumer spending. Stocks had opened higher, buoyed by Home Depot's raised outlook, but those gains quickly faded.
Stocks opened higher on Wednesday as oil prices jumped above $71 and Home Depot raised its outlook. Banks opened mixed as the market digested news that some of the largest institutions would be repaying government bailout money. Some investors worried that the 10 banks returning TARP money could be doing so too soon and might need further injections later. Read and listen to what experts had to say…
Stocks opened higher Wednesday as oil prices jumped above $71 and Home Depot raised its outlook.
China stimulus trumps U.S. stimulus. Although the dollar is comparatively flat, we continue to have a global commodity rally--oil, copper, aluminum and other commodities are at or near their highs for the year.
Investors should look toward Wednesday's crude inventories to see if the oil rally will continue.
It seems the major catalyst of the summer is oil with energy stocks holding up an otherwise sluggish stock market. How should you be positioned?
"In 90 days you've gone from an attitude on Wall Street that the financial system is on the precipice to a feeling that happy days are here again," one pro says.
The bulls initially dominated trading on Tuesday after the Treasury Department said 10 big banks have gotten the okay to pay back $68 billion they received from the government.
As expected, 10 banks are being permitted to repay their TARP money, a combined $68 billion. Oddly, they didn't name the banks, but it's JPMorgan, Goldman Sachs, Morgan Stanley, US Bancorp, American Express, Capital One, BB&T, Bank of New York, State Street and Northern Trust.